Financials Telenor ASA OTC Markets

Equities

TELNF

NO0010063308

Wireless Telecommunications Services

Market Closed - OTC Markets 07:40:16 01/07/2024 pm IST 5-day change 1st Jan Change
11.51 USD +0.05% Intraday chart for Telenor ASA +0.05% -0.78%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,23,998 2,01,293 1,93,965 1,28,146 1,61,417 1,63,327 - -
Enterprise Value (EV) 1 3,07,098 3,11,693 2,94,748 2,26,021 2,41,198 2,45,222 2,46,327 2,41,726
P/E ratio 26.7 x 11.8 x 127 x 2.85 x 11.8 x 8.7 x 15 x 13.6 x
Yield 5.53% 6.17% 6.71% 10.3% 8.06% 8.01% 8.08% 8.22%
Capitalization / Revenue 1.97 x 1.64 x 1.76 x 1.3 x 2.01 x 2.01 x 1.98 x 1.95 x
EV / Revenue 2.7 x 2.54 x 2.67 x 2.28 x 3 x 3.02 x 2.99 x 2.89 x
EV / EBITDA 6.77 x 5.51 x 6 x 5.33 x 6.98 x 6.93 x 6.76 x 6.45 x
EV / FCF 38.6 x 13.8 x 12.9 x 11.3 x 16.8 x 24.6 x 17.7 x 17.7 x
FCF Yield 2.59% 7.25% 7.74% 8.82% 5.97% 4.07% 5.66% 5.66%
Price to Book 5.85 x 5.33 x 7.38 x 2.13 x 2.5 x 2.43 x 2.55 x 2.66 x
Nbr of stocks (in thousands) 14,22,663 13,79,663 13,99,458 13,98,973 13,84,365 13,67,898 - -
Reference price 2 157.4 145.9 138.6 91.60 116.6 119.4 119.4 119.4
Announcement Date 29/01/20 02/02/21 02/02/22 02/02/23 07/02/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,13,935 1,22,811 1,10,241 98,953 80,452 81,306 82,514 83,674
EBITDA 1 45,358 56,520 49,162 42,374 34,564 35,409 36,429 37,492
EBIT 1 25,707 27,463 23,294 19,105 16,964 19,300 19,925 21,110
Operating Margin 22.56% 22.36% 21.13% 19.31% 21.09% 23.74% 24.15% 25.23%
Earnings before Tax (EBT) 1 21,906 25,641 17,084 10,732 1,097 20,920 17,997 19,546
Net income 1 8,489 17,341 1,528 44,913 13,734 18,898 11,058 12,019
Net margin 7.45% 14.12% 1.39% 45.39% 17.07% 23.24% 13.4% 14.36%
EPS 2 5.890 12.32 1.090 32.09 9.900 13.72 7.964 8.763
Free Cash Flow 1 7,947 22,596 22,825 19,924 14,392 9,972 13,949 13,674
FCF margin 6.98% 18.4% 20.7% 20.13% 17.89% 12.26% 16.91% 16.34%
FCF Conversion (EBITDA) 17.52% 39.98% 46.43% 47.02% 41.64% 28.16% 38.29% 36.47%
FCF Conversion (Net income) 93.62% 130.3% 1,493.78% 44.36% 104.79% 52.77% 126.15% 113.77%
Dividend per Share 2 8.700 9.000 9.300 9.400 9.400 9.561 9.650 9.820
Announcement Date 29/01/20 02/02/21 02/02/22 02/02/23 07/02/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 28,154 27,009 28,036 28,428 25,402 19,187 20,224 20,108 20,934 19,457 20,449 20,628 21,132 - -
EBITDA 1 11,743 11,660 12,501 13,059 10,146 8,078 8,767 9,103 8,467 8,505 8,884 9,355 8,499 - -
EBIT 1 5,294 5,300 5,944 6,620 4,272 3,834 4,374 4,987 3,769 5,631 4,765 5,321 4,364 - -
Operating Margin 18.8% 19.62% 21.2% 23.29% 16.82% 19.98% 21.63% 24.8% 18% 28.94% 23.3% 25.79% 20.65% - -
Earnings before Tax (EBT) 1 2,975 6,537 222 3,256 3,283 -50 2,288 4,567 -5,708 12,858 4,152 4,756 3,904 - -
Net income 1 587 6,570 -1,113 1,549 37,906 18,146 821 2,451 -7,683 11,560 2,441 2,938 2,597 - -
Net margin 2.08% 24.33% -3.97% 5.45% 149.22% 94.57% 4.06% 12.19% -36.7% 59.41% 11.94% 14.24% 12.29% - -
EPS 2 0.4200 4.690 -0.8000 1.110 27.09 13.01 0.5900 1.770 -5.550 8.350 1.461 2.018 1.575 - -
Dividend per Share 2 5.300 - 4.300 - 5.100 - - - 4.400 - 6.534 - 3.000 - 5.000
Announcement Date 02/02/22 02/05/22 18/07/22 26/10/22 02/02/23 04/05/23 19/07/23 25/10/23 07/02/24 30/04/24 - - - - -
1NOK in Million2NOK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 83,100 1,10,400 1,00,783 97,875 79,781 81,895 83,000 78,399
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.832 x 1.953 x 2.05 x 2.31 x 2.308 x 2.313 x 2.278 x 2.091 x
Free Cash Flow 1 7,947 22,596 22,825 19,924 14,392 9,972 13,949 13,674
ROE (net income / shareholders' equity) 29.6% 36.5% 29.4% 30.1% 6.13% 18.9% 16.5% 19.2%
ROA (Net income/ Total Assets) 6.31% 5.52% 0.63% 19.3% 6% 5.95% 5.13% 5.82%
Assets 1 1,34,456 3,14,171 2,41,124 2,32,494 2,28,813 3,17,420 2,15,489 2,06,543
Book Value Per Share 2 26.90 27.40 18.80 43.00 46.60 49.10 46.90 44.80
Cash Flow per Share 2 20.70 31.30 30.20 28.00 21.00 22.30 21.80 21.80
Capex 1 18,075 21,440 19,447 19,298 14,728 13,794 12,934 12,079
Capex / Sales 15.86% 17.46% 17.64% 19.5% 18.31% 16.97% 15.67% 14.44%
Announcement Date 29/01/20 02/02/21 02/02/22 02/02/23 07/02/24 - - -
1NOK in Million2NOK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
119.4 NOK
Average target price
139.7 NOK
Spread / Average Target
+16.97%
Consensus